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One of China's largest forklift truck manufacturers, serving warehousing and logistics customers.
One of China's largest forklift truck manufacturers, serving warehousing and logistics customers.
Sells forklifts mostly through dealers, then earns repeat income from parts and servicing on trucks already in use. Demand follows factory and warehouse investment, with the mix moving from engine-powered to battery-powered trucks, and exports are a growing share of volume.
In one line: China's Hyster-Yale.
Moat: narrow (scale, distribution, brand). Leading domestic forklift brand with a broad dealer network and growing export volumes.
Headquarters: Hefei, Anhui, China · Founded: 1958 · Employees: 11,419
Size Anhui Heli (600761.SS) is a China Industrials company (Trucks/Construction/Farm Machinery) with a market value of $2.06B, the 1221st largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥15.44 on 6 Nov 2026.
Performance Over six months the shares fell 14.4%, against -10.8% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 12.9% over the last twelve months (peer median +11.7%); the operating margin is 6.6% (peer median 6.5%).
Valuation It trades at 10.9× forward earnings against a peer median of 11.5× (7th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -7% a year for seven years (Req g). Recent delivered growth is +9%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.8 points above its cost of capital (7.5% WACC).
Next results Next results expected around 13 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥21.3B | CN¥19.8B | CN¥17.8B | CN¥17.1B | CN¥15.7B |
| Revenue growth | — | +11% | +4% | +9% | — |
| Gross profit | CN¥5.08B | CN¥4.48B | CN¥4.00B | CN¥3.57B | CN¥2.55B |
| EBITDA | n/a | CN¥1.97B | CN¥1.88B | CN¥1.78B | CN¥1.22B |
| Net income | CN¥1.04B | CN¥1.22B | CN¥1.34B | CN¥1.32B | CN¥907M |
| Free cash flow | CN¥1.94B | CN¥1.03B | -CN¥17.2M | CN¥958M | CN¥129M |
| Capital expenditure | CN¥655M | CN¥771M | CN¥842M | CN¥683M | CN¥705M |
| Total debt | CN¥4.00B | CN¥3.36B | CN¥4.60B | CN¥5.38B | CN¥5.13B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Anhui Heli 600761.SS | $2.06B | -14% | +13% | 7% | 10.9× | -6.7% |
| Hangcha 603298.SS | $4.71B | -12% | +7% | 12% | 13.3× | 2.9% |
| Kion KGX.DE | $5.05B | -25% | +3% | 6% | 10.4× | n/a |
| Hyster-Yale HY | $509M | -24% | -11% | -1% | n/a | 32.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 600761.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +3.5% | 0.0% | 6th highest of 21 |
| 6-month return | -14.4% | -10.8% | 8th lowest of 21 |
| Distance from 52-week high | -36.7% | -31.0% | 7th lowest of 21 |
| Revenue growth (TTM) | +12.9% | +11.7% | 8th highest of 21 |
| Operating margin | 6.6% | 6.5% | 11th highest of 21 |
| Forward P/E | 10.9× | 11.5× | 7th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -6.7% | 2.2% | 2nd least demanding of 16 |
| Growth delivered (Del g) | +9.2% | +6.1% | 6th highest of 16 |
| Hurdle (Req g minus delivered) | -15.9 pp | -5.1 pp | 3rd least demanding of 16 |
| ROIC minus cost of capital | +3.8 pp | -0.7 pp | 5th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Anhui Heli 600761.SS | China | $2.06B | -14% | +13% | 7% | 10.9× | -6.7% | +9.2% |
| NFI NFI.TO | Canada | $2.06B | +13% | +15% | 2% | 11.0× | 12.0% | +9.3% |
| Shantui Construction Machinery 000680.SZ | China | $2.06B | -22% | +14% | 10% | 9.8× | -4.4% | +15.6% |
| CIMC Vehicles (Group) 301039.SZ | China | $2.07B | -18% | +6% | 4% | 16.6× | -4.3% | -5.2% |
| Mitsui ES 7003.T | Japan | $1.98B | -45% | +12% | 11% | 8.7× | 16.0% | -11.3% |
| Sumec 600710.SS | China | $2.18B | -9% | +14% | 4% | 9.8× | -17.2% | +3.6% |
| First Tractor 601038.SS | China | $1.95B | +2% | +12% | 6% | 17.5× | -1.6% | +7.5% |
| Takeuchi Mfg.Co 6432.T | Japan | $2.21B | +4% | +12% | 16% | 10.6× | 4.0% | +14.9% |
| Beijing Jiuzhouyigui Environmental Technology 688485.SS | China | $1.91B | +29% | +9% | 2% | n/a | n/a | n/a |
| ZHEJIANG ZHONGJIAN TECHNOLOGY 002779.SZ | China | $2.26B | +2% | +28% | -17% | 150.7× | n/a | n/a |
| Nisshinbo 3105.T | Japan | $1.87B | -9% | +2% | 7% | 11.5× | 3.6% | +1.9% |
| Trinity Industries TRN | United States | $2.30B | -20% | -2% | 13% | 15.8× | n/a | n/a |
| China Railway Hi-tech Industry 600528.SS | China | $2.37B | -9% | -8% | 5% | n/a | -4.0% | +2.6% |
| Cadeler A/S CADLR.OL | Norway | $2.41B | -14% | +53% | 36% | 9.4× | n/a | n/a |
| Deutz DEZ.DE | Germany | $1.74B | -13% | +11% | 5% | 11.4× | 19.8% | +9.5% |
| BEML BEML.NS | India | $1.72B | -2% | +13% | 6% | 39.1× | n/a | n/a |
| Xiangyang Changyuandonggu Industry 603950.SS | China | $1.72B | -36% | -8% | 17% | 22.8× | 22.1% | +6.1% |
| JiangSu Changling Hydraulic 605389.SS | China | $1.72B | -32% | +19% | 12% | n/a | 36.1% | +4.4% |
| CoCreation Grass 605099.SS | China | $1.72B | -41% | +10% | 21% | 15.4× | 2.2% | +12.3% |
| Wacker Neuson WAC.DE | Germany | $1.71B | +20% | +14% | 7% | 13.4× | 1.5% | +6.6% |
| Guangxi Liugong Machinery 000528.SZ | China | $2.58B | -13% | +10% | 6% | 10.5× | -3.5% | +5.0% |